MATCHING: -The Authority of a Person to Act on Behalf of of the Principal

question 18

Multiple Choice

MATCHING:
-The authority of a person to act on behalf of the principal that is triggered by the occurrence of a specified anticipated event

• A)exordium clause
• B)residuary clause
• C)conservator
• D)delay clause
• E)simultaneous death clause
• F)principal
• G)attestation clause
• H)medical power of attorney
• I)nondurable power of attorney
• J)springing power of attorney

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Definitions:

Operating Activity

Activities that relate directly to the business’s primary operations, such as selling goods and providing services, not including investing or financing activities.

Direct Method

A way of preparing the cash flow statement where actual cash flows from operating activities are listed, opposed to adjusting net income for indirect factors.

Net Cash Flows

The total amount of cash and cash-equivalents being transferred into and out of a business.

Operating Activities

Transactions and events that affect the net income, related to the core business operations of a company.